Proceed With Caution
*Just a heads up, this is a weekly chart, as opposed to the usual daily chart*
As previously discussed, we are now seeing price action test LTS-2 (Long-Term Support level 2). This is a significant event given the downside risk if that level fails. Outside of LTS-2, there is some support around 6000-6500 from the previous consolidation and price floor back in 2018, but if that level fails as well, there isn’t any real support till 3000. Obviously this can all change with positive macro changes or news to support BTC, but in lieu of that, previous price action is our road map.
On the positive side, if LTS-2 holds, and we see price action in the declining channel (blue parallel lines) break to the upside, things would start to look promising for bulls.
As previously discussed, we are now seeing price action test LTS-2 (Long-Term Support level 2). This is a significant event given the downside risk if that level fails. Outside of LTS-2, there is some support around 6000-6500 from the previous consolidation and price floor back in 2018, but if that level fails as well, there isn’t any real support till 3000. Obviously this can all change with positive macro changes or news to support BTC, but in lieu of that, previous price action is our road map.
On the positive side, if LTS-2 holds, and we see price action in the declining channel (blue parallel lines) break to the upside, things would start to look promising for bulls.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.